It would be irresponsible to provoke another Cold War, IMF chief warned -

Washington: International Monetary Fund (IMF) chief Kristalina Georgieva warned that the United States and European countries have been pursuing a policy of creating economic barriers to meet their geopolitical goals, and this policy could backfire. She simultaneously claimed that the international economy would get divided due to the decisions taken by the US and Western countries against China. Furthermore, she referred to the ongoing conflict between the US and its allies and China as the second cold war and warned that it would be irresponsible to start this Cold war. Former British military officer Richard Shirreff said, just two days ago, that if we want to stop the third world war, the West will have to fight the second cold war. In this background, the warning of the chief of IMF becomes noteworthy.

The United States and the West have imposed massive economic sanctions on Russia over the Russia-Ukraine conflict. Efforts have been underway to take Russia out of the international system and cut it off from the global system. On the other hand, sanctions and fines were imposed on China, and a cautious stance has been taken regarding Chinese investment. Several countries in the US and Europe have decided to ‘blacklist’ Chinese companies. At the same time, cooperation with China in the sensitive technology sector has been blocked.

Against this backdrop, Russia and China are coming together more and have started to form an independent front by bringing together Asia, Africa and other countries. The IMF chief said all these things show that the global economy was getting divided. Moreover, Georgieva warned that such a division would not be in the interest of the global economy but that the world would become increasingly poor and insecure.